By Dipo Olowookere
It was a positive outing for the Nigerian Exchange (NGX) Limited on Friday as it appreciated 0.12% at the close of trading.
Sustained buying pressure pushed buyers into the market yesterday, particularly in the Banking and Consumer Goods sectors, which were up 0.25% and 0.15% respectively.
Unfortunately, the insurance sector fell 0.79%, while the industrial goods counter depreciated 0.02%, while the energy index closed flat.
At the end of the day, the All-Share Index (ASI) rose by 56.38% to 47,328.42 points from 47,272.04 points, while the market capitalization increased by 30 billion naira from 25.507 billion naira against 25.477 billion naira.
Business post reports that the Market Breadth closed positive yesterday as there were 21 price winners and 17 price losers, indicating slightly strong investor sentiment.
eTranzact maintained its upward move on Friday, rising 9.92% to N2.66, Royal Exchange rose 9.65% to N1.25, RT Briscoe rose 9.30% to 94 kobo, Cornerstone Insurance rose 7.69% to 70 kobo, while Niger Insurance rose 7.69% to 28 kobo.
On the other hand, Cutix led the losing gang with a price depreciation of 8.47% to settle at NEM 2.70, NEM Insurance was down 5.00% at N3.80, Veritas Kapital was down 4.35% at 22 kobo, Coronation Insurance was down 4.00% at 48 kobo, while UPDC was down 3.70% at N1.04.
In the market yesterday, investors traded 253.3 million shares worth 2.8 billion naira in 4,266 trades, compared to 340.7 million shares worth 3.9 billion of naira traded in 5,383 transactions on Thursday.
This showed that the volume of shares decreased by 25.64%, the value of shares decreased by 28.61%, while the number of transactions decreased by 20.75%.
As of close of business, FCMB was the most active stock with revenue of 50.1 million units worth N152.9 million, followed by Transcorp with 37.0 million units worth N45.6 million.
UBA traded 19.3 million shares worth N167.7 million, FBN Holdings traded 17.8 million shares worth N205.0 million, while GTCO sold 10.2 million shares worth N273.2 million.